Required information E11-9 (Algo) Recording and Reporting Stockholders' Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] The annual report for Malbu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $352,000 of common stock now held in treasury. b. Declared cash dividends in the arnount of $261,000. c. Paid the dividends in (b). d. Issued 120,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 11-9 (Algo) Part 3 Prepare a statement of stockholders' equity, assuming the following opening balances. Net income for the current year was $290,000